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CEEMEA FX Price Signal Summary - EURPLN Impulsive Rally Extends

EMERGING MARKETS
  • EURHUF remains bullish following the recent recovery from 378.24, the Aug 30 low. The latest pullback appears to be a correction and the support to watch lies at 382.36, the 50-day EMA. The cross has recently pierced 391.64, the Aug 21 high. Clearance of this level would open 394.67, the Aug 3 high and a key resistance. On the downside, a clear break of the 50-day EMA would be bearish and instead, expose 378.24.
  • EURPLN rallied sharply higher last week and the cross has started this week on a bullish note. Key resistance at 4.6462, a trendline drawn from the Sep 30 2022 high, has been cleared. This has been followed by a move through 4.4683, the 50.0% retracement of the Sep 2022 - Jul bear leg. The break strengthens the current bullish theme and opens 4.7072, the 61.8% retracement point. Initial support is at 4.5951, the Sep 8 low.

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